Mera Samvidhaan All of Insolvency and Bankruptcy Code, 2016

Part II · Chapter III-A · Pre-packaged Insolvency Resolution Process

54HManagement of affairs of corporate debtor.

Section 54H · Part II · Chapter III-A · page 71 of the Act

During the pre-packaged insolvency resolution process period,—

(a) the management of the affairs of the corporate debtor shall continue to vest in the Board of Directors or the partners, as the case may be, of the corporate debtor, subject to such conditions as may be specified;

(b) the Board of Directors or the partners, as the case may be, of the corporate debtor, shall make every endeavour to protect and preserve the value of the property of the corporate debtor, and manage its operations as a going concern; and

(c) the promoters, members, personnel and partners, as the case may be, of the corporate debtor, shall exercise and discharge their contractual or statutory rights and obligations in relation to the corporate debtor, subject to the provisions of this Chapter and such other conditions and restrictions as may be prescribed.

Other provisions that mention Section 54H

Section 54H of The Insolvency and Bankruptcy Code, 2016 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.